Ethereum Sees Strong Growth in Market Cap, Price This Quarter

The top rival of “digital gold,” i.e. bitcoin, had a banner first quarter in 2017, with a $3.6 billion increase in market cap (just under a 500% increase, compared to bitcoin’s 11% increase for the quarter), according to new data from Coindesk’s State of Blockchain report for 1Q17.

The cryptocurrency-slash-enterprise blockchain platform also experienced a more than 400% increase in price, moving up to trade at approximately $50, up from $8 last year.

Ethereum professionals seem to be veering towards collaboration with traditional technology and financial services companies; according to the Coindesk report, which surveyed more than 1,100 “blockchain enthusiasts” for the report, 86% of respondents “felt positive about traditional company involvement with ethereum.”

Ethereum’s growth in the first half of 2017 has sparked interest from a multitude of investors and industries, including banks and other financial institutions—many of whom have become members of the Enterprise Ethereum Alliance, a consortium focused on developing uses for the platform across enterprises.